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Niocorp Developments Ltd
Symbol NB
Shares Issued 157,720,834
Close 2015-09-16 C$ 0.75
Market Cap C$ 118,290,626
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Niocorp produces ferroniobium from Elk Creek resource

2015-09-17 08:09 ET - News Release

Mr. John Ashburn reports

NIOCORP ACHIEVES SIGNIFICANT METALLURGICAL MILESTONE: FIRST PRODUCTION OF FERRONIOBIUM FROM THE ELK CREEK RESOURCE

Niocorp Developments Ltd. has produced ferroniobium using feed material from the Elk Creek resource that meets specifications for commercial sale.

Niocorp has retained Kingston Process Metallurgy Inc. of Kingston, Ont., to conduct a series of pyrometallurgical tests to provide design information for the ferroniobium production process and to generate small quantities of ferroniobium. Test work conducted in August of 2015 produced a final ferroniobium button that weighed 78 grams. The button was analyzed in KPM's internal laboratory, as well as at two external laboratories: SGS of Lakefield, Ont., and Actlabs of Ancaster, Ont. Niocorp then compared the analytical results with a commercial specification for ferroniobium contained in the company's off-take agreement with Thyssen Krupp Metallurgical Products GmbH and determined that the specification was met.

"We are extremely pleased with the work completed by the KPM team in order to achieve this important milestone for the Elk Creek project," said Mark Smith, executive chairman of Niocorp. "These results are the culmination of our efforts to demonstrate a complete flow sheet for the production of ferroniobium at a laboratory scale and will be combined with the other elements of our metallurgical development program to advance our plant design to the feasibility level."

Qualified persons

Eric Larochelle, BEng, of Roche Engineering Inc., a qualified person as defined by National Instrument 43-101, is responsible for the Elk Creek hydrometallurgical program and has read and approved the technical information contained in this news release.

Kevan Ford of Great Lakes Metallurgy Ltd., a qualified person as defined by National Instrument 43-101, is responsible for the Elk Creek pyrometallurgical program and has read and approved the technical information contained in this news release.

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